Russia’s military spending soars, surpassing all of Europe’s defense budgets combined — The Financial Times

Russia’s defense spending surged 42 percent in 2024, reaching 13.1 trillion rubles, or approximately $462 billion in purchasing power parity, The Financial Times reported on February 12, citing data from the International Institute for Strategic Studies (IISS).

According to the report, Russia’s military budget surpassed the combined defense spending of all E.U. nations and the United Kingdom, which together rose 12 percent in 2024 to $457 billion.

The IISS projects that Russia’s military expenditures will climb another 13.7 percent in 2025, reaching 15.6 trillion rubles (about $166 billion).

Among European nations, Germany allocated the most to defense in absolute terms, spending $86 billion, followed by the U.K. with $81 billion and France with $64 billion. As a share of GDP, Estonia (4 percent) and Poland (3.25 percent) led military spending, though their total spending — $1.7 billion and $28 billion, respectively — remained below those of Europe’s largest economies.